Understanding The Philosophy Of Human Resource Management

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2. Literature Review
With the changing trends of industry in the competitive environment of open market, human resource management becomes a significant variable for the efficient growth of any organization. Manpower planning was the very first concept used in ancient eras with the passage of the trends changes and the concept of manpower planning changed and become personal management. Today personal management is known as
Human resource management.
Some of the factors or significant variables mentioned by the American writers Terrey and Franklin
(1996) 6 “M” of management, viz. Men and women, material, money, market and method. Among these, men and women the only living being do the effective coordination and utilization of these human and non-human resources. Managing human resource is a complex process. As Harzing and Ruysseveldt said “A better way to understand the philosophy of human resource management demands a thorough understanding about the evolution of the concept itself from the ancestral concept personnel management”.
Becker and Huselid (1998) indicate the most significant value that is generated in the result of Human
Recourse function by focusing primarily on delivery of HR practices like staffing, development, compensation, labor relations, etc. which is based on professional and often research-based principles. These practices are important, and research indicates that when they are done well they add tangible value to the organization.
2.1 The Gilded Age

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